Rockhopper Exploration (LON:RKH) Sets New 1-Year High - Time to Buy?

Key Points

• Rockhopper Exploration plc reached a new 12-month high, trading at GBX 69.40 ($0.93) with significant trading volume of over 2.23 million shares.
• Canaccord Genuity increased their price target for Rockhopper from GBX 49 ($0.66) to GBX 86 ($1.16), assigning a "speculative buy" rating.
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.63), indicating that company insiders currently own 19.22% of the stock.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as GBX 69.40 ($0.92) and last traded at GBX 69.40 ($0.92), with a volume of 2239284 shares. The stock had previously closed at GBX 64.60 ($0.86).

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their price target on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the stock a "speculative buy" rating in a report on Monday, June 9th.

Rockhopper Exploration Stock Performance

The firm has a market cap of £620.89 million, a price-to-earnings ratio of 39,422.88, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The stock has a 50-day moving average of GBX 54.92 and a 200-day moving average of GBX 46.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27.

Rockhopper Exploration (LON:RKH - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share for the quarter. As a group, analysts anticipate that Rockhopper Exploration plc will post -0.1899958 EPS for the current fiscal year.

Insider Activity at Rockhopper Exploration

In related news, insider Alison Baker sold 50,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.62), for a total value of £23,500 ($31,158.84). 19.22% of the stock is currently owned by corporate insiders.

Rockhopper Exploration Company Profile

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.